The Australian Securities and Investments Commission (ASIC) is urging all Freedom Insurance customers to check if they qualify for financial remediation.
If you believe you were mis-sold a funeral, accidental death or life insurance policy by Freedom Insurance between October 2010 and October 2018, or if you tried to cancel your policy without success, ASIC encourages you to contact the insurer that issued your policy and ask if you are eligible for a refund of your premiums.
ASIC ordered Freedom to make $102 million available to affected clients.
Freedom Insurance no longer sells insurance products.
ASIC found Freedom Insurance used harmful sales practices to sell insurance and then unfair practices to keep consumers in the policies when they attempted to cancel.
If your policy was issued by AIA Australia (policies beginning 94), call 1800 517 070 or email contactus@iasas.com.au. If it was issued by NobleOak or Swiss Re Life and Health, call 1300 884 488. If it was issued by ClearView Life Assurance call 1800 945 159 or email remediation@clearview.com.au.
.
